Business ethics for Managers Test 2
If no time period for a firm offer to remain open is stated, it will stay open for a maximum of _______.
3 months
Which of the following is not true regarding firm offers?
A firm offer automatically occurs when an offer or promise is made by one merchant to another.
To determine if a person is lucid, courts employ
A flexible standard
Where the language is not unequivocal but more _______, or when _______ is the basis for determining the repudiation, the analysis is more complex and may not equal anticipatory repudiation.
ambiguous conduct
When a contract has terms such as "provided that" or "unless" in a contract that indicates a performance obligation that is called a
Condition precedent
True or false: LiquidatorsPlus sells Joe a washer-dryer combo for $950. The contract is governed by the common law.
False
Gabrielle purchase a coffee press from Coffees R Us! to be delivered. When packing the product at Coffees R Us! the employee accidentally breaks it, but ships it anyway. When the box is delivered to Gabrielle's house she accepts the sealed box and immediately runs into the house to open the box. She immediately notices that the coffee press is broken and calls Coffees R Us! to request her money back. What will most likely be the outcome of this situation under the UCC?
Gabrielle may reject the broken coffee press.
In the United States, the law presumes that every contract is entered into with
Good faith
The rules that limit consequential damages for which a nonbreaching party may recover were set out in the _______ case that has been followed almost universally by US courts.
Hadley v. Baxendale
The interpretation rule stating that any writing by the parties intended to be the final expression of their agreement may not be contradicted by any oral or written agreements made prior to the writing is called the
Parol evidence rule
A preprinted form with some blanks in the form to be filled out for specific negotiated terms unique to the transaction is called a
Purchase order
Suppose Joe and Tom have an enforceable contract. Before the time to perform Joe tells Tom, "you know Tom I don't know if I can deliver that gravel at the work site tomorrow." This may not be an example of _______ repudiation because Joe is only expressing _______ about his performance.
anticipatory vague doubts
Where the language is not unequivocal but more _______, or when _______ is the basis for determining the repudiation, the analysis is more complex and may not equal anticipatory repudiation.
conduct ambiguous
The UCC does require _______ to support a sales contract, but unlike the common law, does not require additional consideration for contracts to be ________. (Choose two correct answers)
consideration modified
Default rules _______ at the time they enter into their contract because the parties can 'overrule' or _______.
create their own terms and conditions can be modified by the parties
In the case of a partial breach, the _______ party may not be relieved from performing, and may still recover ________ from the breaching party.
damages nonbreaching
A(n) _______ rule is a rule of law that is designed to fill "_______" in business contracts to help courts rule on unexpected or unforeseen situations that might occur after a deal is made.
default gaps
When merchants engage in sales transactions but overlook or are unsure about some key element of the contract, the UCC can fill in the gaps, with _______, ______, or the _______ of goods.
delivery quantity price
If Joe Just-in-Time makes widgets to order, and Carol Cupcake orders a specially manufactured widget from Joe, then at the time of her order her widget _______ and she _______. (Choose two correct answers)
does not exist cannot take title
Anticipatory repudiation can occur when action by the promisor renders her performance _______.
impossible
In contracts, _______ refers to the issue when one contracting party has more information than the other.
information asymmetry
Suppose Tom, a car dealer, and Joe, a consumer, are negotiating to have a car delivered. The parties agree for 5% down to be held in escrow pending the arrival of the car within 30 days. These terms that Joe and Tom have agreed upon are considered _______ terms to the contract.
mandatory
Generally, a person is in _______ of her contract when she fails to fulfill a fundamental term of the contract.
material breach total breach
If the seller is a(n) _______ and promises in a signed writing to keep an offer for the sale of goods open for a period of time, under UCC Article 2 this action creates a firm offer _______.
merchant that is irrevocable
The UCC imputes a certain level of knowledge and awareness to _______ and allows their transactions to proceed in an expedited manner without the necessity for safeguards intended for _______.
merchants, average consumers
When one party to an agreement makes a promise or representation about a(n) _______ fact that is not true, the other party may avoid the contract on the basis of _______. (Choose two correct answers)
misrepresentation material
Generally, the legal remedy for breach of contract will be _______ awarded by the court to the nonbreaching party.
money damages
Lon has just come home from serving in the Marines and contracts with a local car dealership to purchase a car. The car must be ordered, and payment is to be made when the car arrives. The next day, Lon receives orders to return to active duty. Realizing that he doesn't need the car, he brings Tony to the dealership and asks that Tony substitute for him. Tony will take delivery and ownership of the car, and Tony will pay the dealership upon delivery. The dealership agrees to have Tony substitute for Lon. What has occurred?
A novation.
When the buyer agrees to purchase all or up to an agreed amount of what the buyer needs for a given period, what kind of contract is formed?
A requirements contract.
Ed writes Gwen a letter and offers her a job as a financial analyst for his construction company at a salary of $75,000.00 a year. Two days later he sends her another letter telling her that he has changed his mind. Gwen receives both of the letters and after reading the letter with the job offer, does not open the second letter, and spends a couple of days thinking about the offer and whether she should accept it. Four days later, Gwen decides to accept the offer but still has not read the second letter revoking the offer. Which statement is correct?
A revocation is effective once it is received and no actual notice is needed.
Which of the following examples is an example of a merchant according to the UCC?
A vacuum sales person selling door to door.
According to the rationale behind the statute of frauds of the UCC, all of the following statements are correct, except
A writing indicates that both parties are commercially literate.
The goal of a default rule is to
Allow the court to fill in the gaps to save an incomplete contract.
If a person unintentionally engages in innocent misrepresentation, the other party may
Avoid the contract
Suppose Adam agrees to sell an office building to Bill with a deed in 30 days. Several days later, Bill learns that Adam subsequently sold and conveyed the building to Carol. What result? Multiple choice question.
Bill may immediately sue Adam for breach and need not wait the full 30-day period in the contract
Suppose Adam agrees to sell an office building to Bill with a deed in 30 days. Several days later, Bill learns that Adam subsequently sold and conveyed the building to Carol. What result?
Bill may immediately sue Adam for breach and need not wait the full 30-day period in the contract.
Why did the original buyer obtain a voidable title to the car?
Buyer Fraud Check
Which statement below is correct when comparing the UCC and common law?
Common law is much stricter than the UCC.
_______ damages cover a broad spectrum of losses for recovery of actual damages suffered by the nonbreaching party.
Compensatory
16 year old Grace agrees to quit school to work for Andrew in his flower shop full-time. When Grace's mom finds out what she has done, she orders her to tell Andrew that she will quit the job. This is called
Disaffirmance
Hailey purchased an automobile insurance policy through State Insurance. However, State Insurance failed to use the proper legally mandated insurance form. Hailey gets into an accident and seeks to use her policy. Which statement below is most likely correct concerning the outcome of the issue?
Even though the form may not be the legally approved form, an insured under the policy may still enforce that policy.
Consideration, an element of contract formation, requires that both parties
Exchange something of legal value.
The International Chamber of Commerce abbreviation indicating that goods are to be delivered by the seller to the carrier for shipment is
FOB
Another term for a non-breaching party to a contract is
Innocent party
What is the name of the organization that published abbreviations that are meant to avoid confusion in international business transactions?
International Chamber of Commerce
Suppose Joe and Tom have a contract for Joe to paint Tom's house, and Joe purchases all the painting supplies, begins to tape off the windows, and paints 1/3 of the house, then Tom comes out and says, STOP! What result?
Joe can cancel or rescind the contract and receive fair market value for any services he rendered.
The UCC will permit an incomplete or slightly ambiguous contract to be enforced using each of the following criteria except:
Judicial input of any terms necessary to maintain fairness
In which of the following situations is a court most likely to find substantial performance?
KM Corporation orders 500 boxes of copy paper from MK supply, but MK can deliver only 450 boxes.
A rule under the UCC where conflicting clauses cancel each other out and neither clause will become part of the contract but rather will be determined by UCC gap-filler rules is called
Knockout rule
_______ by the parties that one party may be unable to perform despite both parties' best efforts can result in anticipatory repudiation.
Knowledge
Larry's Lumberyard delivers 500 studs to Carl Contractor's worksite. Carl signs an invoice and says "put it on my bill." The delivery man says "No sir, I have to have a check." Who is right?
Larry's Lumberyard. UCC says payment is due at the time and place of delivery.
In which of the following situations would anticipatory repudiation not be allowed?
Manny calls Moe and tells him that the sculpture he's creating for him is coming along slower than anticipated but he's pretty sure he'll be done by the contract deadline.
Eduardo emails Skyler "Hey, I will sell you my Business Law text for $50.00." Skyler immediately responds, "$50??!! Cool! YES!" This example illustrates what concept of contract formation?
Meeting of the minds
Edith sells on Craigslist a life sized statute of a zebra that her mother in law gave to her as a birthday gift. Would this transaction be governed by the UCC?
No because Edith is not a merchant.
Gabrielle, a 19 year old college freshman, promises not to drink any alcohol while she is away at college in exchange for her parents' promise to pay for her tuition. Is there consideration?
No because Gabrielle is not giving up something of legal value as she is under 21 years.
Josh sells t-shirts at an amusement park. When selling t-shirts, he often tells people that the shirts are the softest shirts ever created. If he did not truly believe that and it was a lie, would this be an example of misrepresentation?
No because it is a lie about an opinion.
Basaba Realty sells a house to Mary Moore. Will the Article 2 of the UCC apply to the terms of the contract?
No because real estate contracts do not involve the sale of goods.
Shirley lives next to Reid and has always admired his use of lawn ornaments in his landscaping. She particularly loves Reid's life sized elephant and therefore wants to purchase insurance to protect the lawn ornament from loss or damage during shipping as he sells it to a friend in another state. Will Shirley be able to do that?
No because she does not own the ornament and will not suffer a recognizable loss.
Lora agrees to make Aubrey a quilt out of all of her past t-shirts for $50.00. Is that a good according to the UCC?
No because the good does not actually exist at the time of agreement
Alex purchases a computer from Dell to be delivered via Fed Ex. Dell delivers the computer to Fed Ex to be shipped to Alex. During the delivery, the Fed Ex driver is having a bad day and just throws the boxes out the window of the delivery truck rather than setting the box by the front door as is standard practice. While throwing the computer it is damaged. Would Dell be responsible for the damage to the computer?
No because title transfers to the buyer once the good is delivered to a common carrier.
Allie hires Christie to knit 55 pairs of socks by April 1. Christie accidentally knits only 53 pairs and mails off the 53 pairs of socks so that it reaches Allie by the due date. When Allie discovers this, she notifies Christie that she did not complete the contract. Can Allie refuse to pay Christie?
No if the court rules that the breach was not material and therefore a partial breach.
Ralph, 32 years old, sells his car to Joe, 16 years old, thinking Joe is actually 18 years old. When Ralph finds out Joe is actually only 16 years old, he is outraged and wants to have the contract voided because Joe is a minor. Will Ralph be successful?
No the contract is only voidable by the Joe, the minor.
If a person is not in pari delicto, that means the person is
Not equally as guilty as
In the case of C.M.D. v. Facebook, Facebook allowed a minor to create a Facebook account, but the minor had to accept Facebook's terms, which included using the minor's name and likeness in advertisements. The minor's parents sued Facebook, claiming the terms of the agreement were not enforceable against a minor, and also claiming that the minor disaffirmed the agreement with Facebook. How did the court rule?
Since the minor kept using Facebook he never disaffirmed it.
Suppose Franks Furniture Outlet advertises 100 units of furniture for a price of $50 per unit, and the offer to remain good for 60 days." What is that status of the offer on the 85th day?
Technically there is no firm offer, but possibly an option contract.
__________ is a medieval European law established a uniform and unbiased system for deciding commercial disputes across borders and political boundaries.
The Lex Meracatoria
A-phone Corporation, a California corporation, enters into an agreement with Matt to sell him a phone. In the contract, Matt specifically states that a representative from A-phone must travel to his home in Uganda and deliver it to Matt in person and title will pass once the phone is safely placed in Matt's hands in Uganda. A-phone drops the phone in the mail as they realize it is too expensive to travel to Uganda to deliver it in person. Which statement below is correct according to the UCC as to when title actually passed?
The UCC allows the parties to the contract to determine when title passes and the court will enforce the parties' agreement.
Lonnie's Liquor store agreed to purchase 90 proof moonshine from Moonshine Manufacturing Inc. Before Moonshine Manufacturing can ship the product to Lonnie's, a law is passed making the production, sale and consumption of moonshine illegal. Which statement below is correct?
The contract is impossible to complete due to the law now making the subject matter illegal.
At an after work networking event, Mike drinks wine while negotiating the terms of an employment contract with Cyndy to start the next day. Cyndy shows up to work the next day and Mike states that he was drunk the night before and therefore lacked capacity. The court will most likely rule
The contract is voidable by Mike if he can prove that at the time he entered into the contract his intoxication prevented him from understanding the consequences of his actions.
When a contract for the sale of goods is missing provisions such as delivery, quantity and payment terms, which of the following statement under the UCC is correct?
The contract will be acceptable so long as the contract shows that the parties intended to enter into a contract.
Doctor Adams comes across a Callie, a woman who was alone and in active labor and helps her deliver her baby as no medical assistance was available. Two weeks after Doctor Adams delivers the baby, she sends a reasonable bill to the woman for the services she provided in delivering a healthy baby. Callie refuses to pay it stating that she did not voluntarily accept Doctor Adam's services, lacked mental capacity and had no other options. What will most likely be the outcome of the issue?
The court will order Callie to pay the reasonable bill because otherwise she would be unjustly enriched.
What must be present under the UCC for title to a good to pass to a buyer at the time of contract creation?
The good must actually exist at the time of creation of the contract and it must be identified to the contract.
Joiner Industries agrees to sell to Browning 500 bolts for $1.00 each. After the first 250 bolts are produced, Joiner realizes that they severely under-priced the bolts and that if they continued to make and to sell the additional 250 bolts at the agreed upon price, they would lose a lot of money and most likely go out of business. They approached Browning with their dilemma and requested that they increase the price per bolt to $1.50 each for the entire contract. Browning agreed. According to the UCC which statement below is correct about the modification of the terms of the contract?
The modification is valid as the UCC does not require any additional consideration to modify the contract.
A professor tells a student that if she writes a 5,000-word paper on the evils of plagiarism by May 13, he will pay her $750. Which of the following is true?
The offer is for a unilateral contract.
All of the following are required for promissory estoppel except
The offeree was a minor
Tanner texts a friend, "hey, I'll let you use my car today if you do my grocery shopping for me because I am out of time!" Tanner is
The offeror
Arnie and Matt are involved in a car accident. Immediately before the accident, Arnie was observed speeding and driving erratically. On the other hand, Matt was obeying the speed limit and driving in a very cautious and responsible manner. As a result of the accident, Matt's car needs $2,500 worth of repairs and Matt loses a week's salary because he has to take time off to recover from injuries sustained during the crash. Which of the following statements best describes the nature of the damages in this case?
The repairs are compensatory damages, and the lost wages are consequential damages.
Which of the following would not be considered tangible?
The right of ownership
The statute governing which contracts must be in writing to be enforceable is
The statute of frauds
Suppose Joe and Tom have a license contract with a liquidated damages provision of $100 in a contract. The actual breach of the contract would have damages valued at $500. In the event of a breach, how would the clause be interpreted?
There would be liquidated damages if a court finds $100 reasonable and not a penalty.
Bosco Bibles sells 500 Bibles to Liberty Christian Academy. Due to the value and importance of the shipment, Bosco Bibles and Liberty Christian Academy want to purchase insurance to cover the Bibles while in transit for delivery and specify it in the contract itself. Which statement below is correct according to the UCC?
This would be considered overlapping insurance and the UCC does allow it.
According to the UCC if a time period of acceptance is not stated in the offer to sell goods, the time period for acceptance will be
Three months
______ is an important legal concept that implies the ownership of property.
Title
_______ is the legal term for a claim of ownership to property.
Title
What type of damages are often allowed in fraud cases?
Treble damages
Standardized, preprinted contracts are called
adhesion contracts
The _______ sometimes simply referred to as the Code, is a model statute published by the National Conference of Commissioners of Uniform State Laws (NCCUSL), a private organization
Uniform Commercial Code
When a person lacks capacity, generally those contracts are
Voidable
In Thomas v. Montelucia Villas, the court ruled that the non-breaching party, under the legal theory of anticipatory repudiation, is entitled to damages
When the non-breaching party show that they were willing and able to perform the contract if the repudiation had not occurred.
Bill is a very skilled attorney with a very strong background in Latin. Therefore, when he writes contracts for his clients, he uses as much legalese and Latin legal terminology as possible. Which statement below is correct?
Whenever possible, an attorney should avoid legalese and instead use plain-English to make contracts easier to understand.
Herb offers to sell Ron a cow that both parties believe is newly pregnant. A few months later they both realize that the cow is not pregnant. Can either party avoid the contract?
Yes because it was a mutual mistake.
Jen purchases a couch from Ace Furniture store which includes delivery of the couch. Does Article 2 of the UCC apply to this contract?
Yes since the sale of a good, the couch is the predominant purpose of the contract and the delivery is incidental.
Suppose that Manny Manufacturer faxes an offer to Reggie Retailer for the following: 1,000 widgets for $1.75 each. Suppose further that Reggie sends a text to Manny that says, "Yes, I think so." Is there a contract under the UCC?
Yes, if the court decides that Reggie's response was a reasonable manner of acceptance.
One of the reasons an additional term in a contract between merchants would not automatically be included in a contract is that the term proposes ________ that diverges _______ from those in the offer. (Choose two correct answers)
a material term significantly
A meeting of the mind requires
a true understanding, and acceptance, of the terms of the offer.
Suppose Joe, a trucking company, and Jim, a widget manufacturer, enter into an agreement. Before the widgets are placed on the truck, Joe calls Jim and says "I can't do it. One of my rigs just broke down." Jim can treat this as _______ because it is apparent that Joe party does not intend to perform as agreed.
anticipatory repudiation
According to the UCC tangible means
anything that is able to be touched
If the place of delivery is not specified in the contract, the buyer takes delivery _______.
at the seller's place of business
Harry sees an AK-47 automatic assault rifle in a gun shop window. He inquires about the price and is told that it is $2,500. Harry signs a contract promising to pay the $2,500 on Friday, at which time he will take possession of the rifle. On Thursday, a law is enacted making the ownership, sale, or possession of an automatic rifle illegal. This contract
automatically terminates due to impossibility.
If a breach relates to a fundamental term of the contract, it is called a total breach and the nonbreaching party is entitled to either: _______ or _______
be completely discharged from her obligations suspend performance
If a breach relates to a fundamental term of the contract, it is called a total breach and the nonbreaching party is entitled to either: _______ or _______.
be completely discharged from her obligations suspend performance
The _______ is a legal requirement that certain contracts ______ in order to be enforceable. (Choose two correct answers)
be in writing statute of frauds
Anticipatory repudiation is also called anticipatory _______ and occurs when one party uses unequivocal language to repudiate her contractual obligations.
breach
If the goods do not exist at the time of contracting, title _______ transferred to the buyer.
cannot be
When a party to a contract is of proper age and mental competence, it is said that he or she has
capacity to contract.
Beth has just signed a contract to work for a bank. A clause in the contract says that before she begins work, she must pass a drug test and should drug use be discovered, the contract becomes void. This clause would be a
condition subsequent.
Because the UCC aims to promote the completion of business transactions, the formation elements for a sales contract are ______, and _______ required for common law contracts. (Choose two correct answers)
easier to meet do not require the same level of intent
Even if people form a valid contract, an issue may still arise as to whether the agreement is _______.
enforceable
The UCC is important because _______.
every state has now adopted all, or substantially all, of the provisions of the UCC
At this moment, your contract with your university or college is
express, bilateral, and valid.
A(n) ______ offer is created under Article 2 of the UCC when a(n) _______ offers to buy or sell goods with an explicit promise, in writing, that the offer will be held open for a certain time period. (Choose two correct answers)
firm merchant
An enforceable contract must be the result of _______.
genuine assent
Even if a contract is properly formed, the agreement must _______ and the contract must be _________ under certain circumstances. (Choose two correct answers)
have genuine assent in writing
Goods in the contract become _______ when the seller marks, ships, or separates the goods for sale to the buyer.
identified
The second requirement before title can pass from seller to buyer (after existence of goods) is that the goods in a contract must be _______.
identified
Generally, the UCC provides that a merchant can create an irrevocable firm offer even if there is ________ by the offeree. However, if the offeree gives consideration for the offer this would create a(n) _____. (Choose two correct answers)
no consideration option contract
In the case of a partial breach, the _______ party may not be relieved from performing, and may still recover ________ from the breaching party.
nonbreaching damages
Sometimes it is hard to distinguish between statements of fact and statements of _______.
opinion
The two exceptions to a missing quantity term being required in a commercial sales contract are _______ contracts, or _______ contracts. (Choose two correct answers)
output requirements
A(n) _____ breach is not material and does not concern a fundamental aspect of the agreement.
partial
Businesses frequently use _______ to initiate or respond to an offer to sell a good which usually have some blanks for the particular negotiated terms unique to the transaction.
preprinted forms
Normally, the offer takes the form of a(n) _______ from the buyer that contains preprinted clauses favoring the buyer and blanks for a shipment date, product information, and _______. (Choose two correct answers)
purchase order quantity
Generally ______ is a required term in enforceable contracts for the sale of goods the UCC provides an exception in a(n) _____ contract when the buyer agrees to buy all of the goods a seller produces.(Choose two correct answers)
quantity output
Which of the following is classified as an equitable remedy?
reformation
When an anticipatory ________ occurs, the nonbreaching party _______.
repudiation may file suit immediately
Anticipatory _______ can occur when a(n) ______ person would have believed that the promisor was unlikely to perform.
repudiation reasonable
If Bob Buyer agrees to purchase how much ever grain he needs for 6 months exclusively from Pablo Producer, the parties most likely have what is called a(n) Blank______ contract, a court will generally enforce it even though it fails to state a particular Blank______ of goods.
requirements; quantity
If Bob Buyer agrees to purchase how much ever grain he needs for 6 months exclusively from Pablo Producer, the parties most likely have what is called a(n) Blank______ contract, a court will generally enforce it even though it fails to state a particular Blank______ of goods. Multiple choice question.
requirements; quantity
Fred's Flooring (FF) contracted with Harry homeowner to install wood flooring throughout Harry's home. Harry was to purchase the flooring, and the contract was solely for installation. Payment was to be 20 percent at the time that the work commenced and 80 percent once the flooring was installed. Harry purchased the flooring materials and paid the 20 percent, so FF began work. When FF's work was halfway completed, Harry realized that he didn't have the money to pay FF on completion, so he bolted the doors and refused access. If FF wants to rescind the contract and be paid for work completed, FF would sue for
restitution.
Article 2 of the UCC governs contracts involving the _______,
sale of goods
An agreement to transfer title of property or tangible assets for a certain price is called a
sales contracts
_______ lowers the bar for the formation of _______ by allowing an enforceable agreement to arise "in any manner sufficient to show agreement" between the parties.(Choose two correct answers)
sales contracts Article 2
One of the reasons an additional term in a contract between merchants would not automatically be included in a contract is that the term proposes ________ that diverges _______ from those in the offer. (Choose two correct answers)
significantly a material term
Suppose that Joe owns a 44 acre ranch and Tom wants to buy it. Suppose the two met at the Triangle Coffee Shop to negotiate and agreed on a sale price of $150,000. Suppose Tom's real estate broker accidentally deletes a decimal in the price, making it $15,000 instead of the parties' agreed-upon price of $150,000. At closing, Tom gives Joe a check for $15,000 and refuses to pay any more, citing the price in the contract. So long as there was a sufficient basis for believing the parties intended the price to be $150,000, a court may simply _______ the contract. Tom may then show that Joe breached the contract and request _______ as an additional remedy.
specific performance reform
In general, contracts for the sale of goods are governed by:
state statutory law based on the Uniform Commercial Code.
If a breach relates to a fundamental term of the contract, it is called a total breach and the nonbreaching party is entitled to either: _______ or _______.
suspend performance be completely discharged from her obligations
If the time of delivery is not specified in a contract, the UCC provides _______
that delivery take place at a reasonable time under the circumstances
Generally speaking, _______ applies to contracts involving the provision of services, while _______ applies to contracts involving the sale of goods.
the common law, Article 2 of the UCC
Larry Lumbermill promises to sell 1,200 board feet of precut 2"x8" studs to Carl Contractor for a new home construction. The lumber is to be delivered at the work site by 5PM the next business day. What happens if Larry's delivery truck meets with a terrible accident during the delivery and the lumber is severely damaged? Who pays for the lumber? The answer to this question involves the UCC's default provisions governing ______ and the _______. (Choose two correct answers)
title risk of loss
Generally, a person is in _______ of her contract when she fails to fulfill a fundamental term of the contract.
total breach material breach
The sale of goods is governed by the UCC and involves the Blank______ from a seller to a buyer.
transfer of title
A lack of genuine assent occurs in cases of: _______. (Choose all correct answers)
undue influence fraud misrepresentation duress
An agreement between two adults to pay $300 cash for a bicycle is an example of a contract that is
valid.